[139 Pages Report] The wealth management platform market was valued at USD 1.52 Billion in 2016 and is projected to reach USD 3.20 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.4% during the forecast period. The base year considered for this report is 2016, and the forecast period is 20172022.

The major growth drivers of the wealth management platform market are expected to be the constant rise in the number of global High Net Worth Individuals (HNWIs), digitalization and process automation, and compliance with stringent industry regulations.

Objectives of the Study

The main objective of the report is to define, describe, and forecast the global wealth management platform market on the basis of advisory models, business functions, deployment models, end-user industries, and region. The report provides detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to 5 main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report strategically profiles key players and comprehensively analyzes their core competencies. It also tracks and analyzes competitive developments, such as partnerships, collaborations, and agreements; mergers and acquisitions; new product launches and developments; and Research and Development (R&D) activities in the market.

Research Methodology

The research methodology used to estimate and forecast the wealth management platform market began with capturing data on key vendor revenues through secondary research, which included directories and databases (D&B Hoovers, Bloomberg Businessweek, and Factiva). The vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market that was derived from the revenues of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of the primary participants is depicted in the figure below:

The study answers several questions for the stakeholders, primarily which market segments to focus on in the next 25 years for prioritizing efforts and investments.

Scope of the Report

The research report categorizes the wealth management platform market to forecast the revenues and analyze trends in each of the following subsegments:

By Advisory Model

Human advisory

Robo advisory

Hybrid

By Business Function

Financial advice management

Portfolio, accounting, and trading management

Performance management

Risk and compliance management

Reporting

Others (billing and benchmarking)

By Deployment Model

Cloud

On-premises

By End-User Industry

Banks

Investment management firms

Trading and exchange firms

Brokerage firms

Others (asset management firms, and custody and compliance providers)

By Region

North America

US

Canada

Europe

Germany

Italy

UK

Rest of Europe

APAC

China

Japan

India

Rest of APAC

MEA

Middle East

Africa

Latin America

Brazil

Mexico

Rest of Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:

Product Analysis

Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

Further breakdown of the North American Wealth management platform market

Further breakdown of the European market

Further breakdown of the APAC market

Further breakdown of the Latin American market

Further breakdown of the MEA market

Company Information

Detailed analysis and profiling of additional market players up to 5.

The global wealth management platform market size is expected to grow from USD 1.70 Billion in 2017 to USD 3.20 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.4% during the forecast period. The increasing business expansions, mergers and acquisitions, joint ventures, and other inorganic strategies undertaken by the vendors are expected to be the key factors in fueling the growth of the market.

The report provides detailed insights into the global wealth management platform market, which has been segmented by advisory model, business function, deployment model, end-user industry, and region. Under the advisory models segment, the human advisory subsegment is expected to hold the largest market share during the forecast period.

Irrespective of the rising service standards of the robo advisors segment, the High Net Worth Individuals (HNIWs) are considering the human advisory segment as their first preference, owing to the increased security concerns in the wealth management industry.

The increase in ratio of the HNWIs across the globe is expected to have increased the demand for wealth management solutions. The wealth management industrys advisory model has been transforming and shifting from commission-based to performance-based models. The robo advisory segment is expected to have the highest growth rate during the forecast period, owing to the increasing competition, rapidly changing market dynamics, and evolving clients requirements. Moreover, it has emerged as an effective low-cost alternative for retail investors and comes with certain benefits, such as low-cost fee structure, ease of use, low to zero account minimums, and diversified services, which is why it is expected to gain traction during the forecast period.

The portfolio, accounting, and trading management business function is expected to hold the largest market share and lead the market during the forecast period. This rise can be attributed to the increased demand for portfolio management, decision support, and trading across multiple programs. With the expanding highly competitive market, the portfolio, accounting, and trading managers are under pressure to handle their existing customers wealth management data, provide them with effective advisory, and concentrate over collaborative activities to strengthen and serve their customers in a better manner.

The rapid adoption of cloud solutions can be observed in the wealth management platform market, owing to the advantages of the cloud technology over that of the on-premises solutions, such as agility, scalability, reduced operational costs, flexible payment options, easy access to data, and self-service capabilities.

Moreover, wealth management firms are expected to gain traction among various end-user industries, owing to the increase in wealth of individuals, healthy economic growth across the globe, and need for compliance with regulations. The trading and exchange firms segment is expected to grow at the highest CAGR, owing to the increased inclination of customers toward trading and exchange to improve the financial gains

The report covers all the major aspects of the wealth management platform market and provides an in-depth analysis for major countries across North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America. North America, owing to the early adoption of new and emerging technologies, coupled with expanding data, is expected to continue to dominate the market during the forecast period. APAC is expected to grow at the highest CAGR during the forecast period, owing to the growing data and increasing number of mergers and acquisitions in the region.

Lack of awareness of wealth management solutions and inadequate technical expertise among enterprise professionals are expected to act as the major challenges for the growth of the wealth management platform market. However, the rising innovations in the fintech industry as well as the increased adoption of blockchain and Artificial Intelligence (AI) technologies are expected to facilitate the adoption of wealth management platform solutions worldwide.